Free Trial

(M4) Short-Term Correction Still in Play

BOBL TECHS
  • RES 4: 119.220 High May 5
  • RES 3: 119.050 High Feb 8
  • RES 2: 119.000 Round number resistance
  • RES 1: 118.790 High Feb 15 and Mar 8
  • PRICE: 118.160 @ 05:40 GMT Mar 13
  • SUP 1: 117.960/680 Low Mar 7 / 4
  • SUP 2: 117.440 Low Mar 1
  • SUP 3: 117.200 Low Feb 29 and the bear trigger
  • SUP 4: 117.000 Round number support

A broader bearish cycle in Bobl futures is intact, however, a correction remains in play. This signals scope for an extension higher near-term. The contract has breached resistance at 118.270, the Feb 26 high. Sights are on 118.790, the Feb 15 high. A break would open the 119.000 handle. On the downside, key support has been defined at 117.200, the Feb 29 low. Clearance of this level would resume the downtrend.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.